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tv   Countdown to the Closing Bell With Liz Claman  FOX Business  February 25, 2015 3:00pm-4:01pm EST

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poor pringles looks terrified. we like pringles. we hope you're making money today. countdown with liz claman against now. liz: most of the market indexes, melissa. would you get o oaor southwest as the airline fails to inspect 128 rudders on its boeing 727 jets resulting in all kinds of cancellations and a scramble to remedy the situation. could journalists of the networks be the culprits in one case of the drones flying over paris? french police battling to stop the drones littering the skies of paris. we have breaking news on the story. a major break in the case. and the ceo of a major drone company approved to fly the skies of europe. what can be done to catch or ground les loose cannon drones?
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we've got managers over $46 billion, and the best in the business. they'll give you their recipe. let's start the downtown ko-- countdown. we'll have more in just a minute about network reporters who were caught flying drones over paris, but in the meantime, up until 20 minutes ago, the markets were gelling with yellen after the second day of testimony. the s&p off the record levels. reverseals for s&p, nasdaq and russell 2000. the markets in the pleased with how the fed chief tackled the subject of inflation, maybe? >> can you speak to the concerns about the possibility that inflation could dip well below your 2% target over the next year? >> well, inflation is running below our 2% target, even now,
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total inflation over the last 12 months was 7/10 of a percent. and we think that inflation is going to move lower before it moves higher. liz: guess what's moving lower this second? the dow jones industrials. you can see there, we're about to go negative. up now just 1/3 of a point. is this cause for concern? or can the good-time records keep rolling and rolling. let's get to the floor show, the traders at the new york stock exchange and come would say on a grander scale, it could be wonky. what do you think is reversing the markets at this hour? >> i'm not sure how it's chairman or chairwoman responded so that. we'll see this as we trade at all-time highs. the market has almost taken on an ambivalent nature. things calm in greece for the
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moment and calm in russia for the moment. liz: we're looking at the intraday charts of the s&p, nasdaq, and russell 2000. they were climbing and then dropping. >> it's not a real dramatic drop when i take a look at a trader's perspectives. we've been trading at a narrow range, but for today and the last couple of weeks. i'm not sure it's anything to worry about. people are going to interpret as anybody that has any kind of policy responsibility. and until they have that meeting until march 17th and 18th, expect more of the same for the next three weeks by what may be going on in the world at that point in time. >> well, minus janet yellen, because she's done at least for the near-term. phil. what drives the market higher, if anything at all? >> i think, again, i think there's no cause for concern until we trade back below 2000. i think that yellen was upbeat and i think the first rate hike will come in june. she was optimistic.
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she was talking about, hey, oil prices are lower, not because of a lackluster demand, it's because of an increase in supply. i think if this was six months ago, she maybe would have spoken the words differently. i think until that patience is going to be removed, i think i think that will continue to have easy times and i'd like it see what the market does after the word is record and i am nents. liz: i'll tell you what is imminent, the veto of keystone. it's above $50 a barrel and listen to what warren buffett told fox business exclusively about keystone two weeks ago. >> it disturbs a lot of people in nebraska, they don't want it going through, a lot of the not in my back yard problem, but i think by and large, keystone should be done. liz: keystone should be done and he's a nebraska resident, luke, and yet now you have the
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house and senate trying to push this. the president's going to veto. how does that effect energy prices? >> i don't know if that affects energy prices a lot right now. both sides of the aisle are fighting over keystone, i don't think it's that important. i think right now capital for energy products, there's a lot of it and there's a lot of distressed assets and they'll find a place to go. and keystone is not that important. i think what's more important to consider is we have been talking about oil a few years here. and it's starting to act like a mid cap stock. this is the largest commodity in the world and the volatility, and it's unbelievable. i think that's what's worrisome. you've got to keep an eye on oil and the u.s. dollar, it affects the price of commodities, but the way that oil moving, i think there's volatility not only in the market, but in the commodities as well. liz: keith, look, short the dollar, not short the dollar, but aside from the dollar, where are you seeing money flowing in on the floor? you know, you're the middle
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man. you're dealing with buyers and sellers and you really get to see the action from the inside. where are people looking for yields right now? >> well, there's absolutely a confidence within the market despite the modest pullback that you'll see in some herky jerkiness if you will in the market intraday. money is flowing into the growth sectors and into consumer discretionary mostly and pulling out of the defensive sectors, take a look at utilities. and a lot of that has to do with where the interest rate environment is going to be. people are looking for yield and see it in the growth sectors and they're confident about the market and path of least resistance is upward. liz: is upward, okay. the s&p utility sector is up 27% last year and maybe it was overbought and now it's slightly oversold. thank you, gentlemen. i'm sure that all three of our gentlemen pay taxes, not yet? >> you do. turns out not so much in greece. greece's big money problems may
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be solved by quite the simple solution, are you ready for this? getting taxpayers to pay their taxes. sounds simple enough, but the tally for delinquent taxes in greece, are you ready for this number, is about $86 billion. that's about one third of greece's entire bailout package. thankfully greece's new government decided to make tax correction a top priority. they don't want to layoff more government workers, a plane without a properly working rudder is a problem kind of like driving a car without a steering wheel. suffice to say very important, so, how was it that southwest airlines failed to perform mandatory rudder inspections on more than 125 jets or roughly one-fifth of the entire fleet? it's causing a major ruckus and causing flight cancellations and negotiations with federal regulators and a whole lot more. look, it's a blunder for
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southwest. i'm not sure it's going to keep people from jumping on planes, but despite that, how serious ask for the company? >> the stock is up 102% year over year. like the rest of the sectors, they've had a great year, the stock is down today. it happened in 2009 and they were fined about $7 1/2 million dollars. look, maybe 7 1/2 million dollars isn't an exorbitant amount of money for corporations like southwest, it's a fine they paid at the time. here is what's going on with them now. they issued a statement and i want to show a portion of the statement, they're saying we're on this right now, we're being very careful. they immediately and voluntarily removed the affected aircraft from service. the maintenance checks and f.a.a. developed an action plan to complete the overdue checks. they will be completed at the-- >> wait a minute, i thought they're allowed to fly these things for five days? >> they are. liz: what do you mean--
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>> they did take some out of service, 80 cancellations yesterday and more today and taking them out of service as fast as they can. when you mention the rudder, that keeps the plane steady. there's a backup system, a hydraulic system on the aircraft, to backup, if the main system failed. the backup system, they failed to inspect. did they make a mistake? absolutely. if at the same time airlines operate on what-if scenarios and safety is the name of the game. liz: and last ones before they need to do the inspections, the stock is pulling back by 2 1/3%. >> i will say southwest, i used to work there our viewers know that, they have one of the best safety records of all of u.s. airlines and we have a lot fewer airlines as we used to have.
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liz: the ones that aren't there, pulling back today. cheryl casone, thank you very much. >> you bet. liz: closing bell ringing in 50 minutes. drones over the skies of paris, m m monduer. and this is disturbing. it's virtually impossible for law enforcement for them to knock these out of the guy. we'll talk to the ceo on the drone software companies that have the right to fly over the skies of europe. and makers of chairman's makers mark bourbon.
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available on any device. >> even with just half a point higher for the dow jones industrials, that's a record close for the dow. if we can see any gain at all, here are the stocks that are getting us there. ge, amex, nike, caterpillar and a few others, visa as well and walt disney. breaking news, three al-jazeera
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journalists have been arrested, yes, you heard me, for flying drones in an illegal drone section of paris. while there's not yet a connection, the arrests come just a day after paris police were looking for culprits behind some mysterious drones flying over paris landmarks recently like the eiffel tower and the u.s. embassy, the past two nights. this scare is occurring just after the u.s. had its own drone scare when a drunk p off-duty federal employee crashed a drone on the white house lawn. okay, this is all very bad news for anybody trying to do legitimate drone business. where do the security worries leave the drone debate. joining me now precision co-founder earnest earon, you're one of the few approved to fly drone and using your software over european nations, not france. >> yes.
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nobody should be flying drones over paris? >> certainly not those sites. what the heck is al-jazeera doing? they know they're watched carefully from middle eastern countries that imprisoned some of their own journalists to here in the united states with the worries. what do you think is happening here? >> i'm not sure. i mean, anytime there is irresponsible use or inappropriate use like this, i mean, it's very concerning for a lot of reasons. one, it overshadowed in the public's minds the good news stories we're trying to hard to push forward. let's face it, if we've got amateur or enthusiasts or in this case, network people operating drones every busy metropolitan areas, it's a risk. liz: you know it's illegal coming 48 hours after paris was looking up and seeing drones flying over, this in the wake of the murders of more than a dozen people in the charlie hebdo magazine and it's a
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horrible situation. let's talk about the biggest worries here that hurt your legitimate business. people are worried of an attack or perhaps drones carrying bombs or weapons of some sort. how do you disspell that notion when you're trying to do quality business with your drones and drone software? >> well, i mean, we're talking about drones that are small enough to operate, you know, quietly and quietly in a major metropolitan center like paris, they're not going to be carrying much in the way of dangerous goods because they're too small. one of the things we're pushing forward, the good use cases and responsible use cases, we're working on the systems so there's visibility between all the air space regulators. the manned aviation, the pilots, everybody has, you know, good visibility and awareness what's happening and what's the appropriate hinge thing to do. >> how did you get approval? that's what i want to know. it's not easy, right?
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>> no, it's not. it takes some time to demonstrate to the regulators, what you're doing, you're doing the responsible thing and you've got the procedures and policies and safety in mind when you're going to be operating. that's what it boils down to. it's safety above all. >> yeah, safety above all. and maybe, perhaps, this is going to push, and i'm sure you'll be annoyed and roll your eyes, maybe it's going to force anybody who wants to operate drones to have a kill switch? would that be possible where law enforcement would operate a switch that would kill any drone up there? >> there's been talk about that. the system that we're working on. what it will do, allow regulators, authorities, even private citizens to be able to set up areas which would, we'll call no-fly zones. the idea is that eventually the drones are physically unable to breach the zones.
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the technology is so that you tell the drone you can't fly there, they did can't fly there. liz: that's the direction you'd like to go. what are yours used for? >> primarily for agriculture and great number of operations in oil and gas exploration and general surveying. liz: and you're going to be allowed many' bringing this up, too, one of the things that warren buffett is most worried about when it comes to isis and the terrorists a biochemical bombs. he feels that nuclear is way harder to develop, obviously, we've seen the iranians working very hard to do that and it's taken years. if you could somehow put together, you know, small pox or something, these guys can put these things on there and i'm thinking to myself, why the heck would al-jazeera have ever even engaged in something that involved the whiff of a drone over a major metropolitan city?
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>> this clearly smacks of completely inappropriate, unsafe, and very unreasonable use and i don't know what they were thinking. liz: it's great to have you and you, it should be stressed, and your team have been working to legitimate work with drones. thanks, ernest. >> good to be on. liz: one of the very few companies that has shown it's able and knows how to do with safety when it comes to flying drones over europe. it's one of the biggest debates and wall street and matters to your money. will fannie and freddie eventually need big bucks or shareholders? hedge fund giant bill ackman says, absolutely yes. they break down the qui issues of the controversial companies. and making their mark for decades and made it in america. it's all being made and always ten usely running distillery in the world.
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the head of one of america's best running bourbons. see that? there's something that's regulated. how this kentucky legend is keep up with demand and oddly why it's teaming up with an american college steeped in tradition. the fox business exclusive. ♪
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>> we've got a stock alert, 35 minutes to go before the closing bell rings. it's below record high, but the nasdaq if it can turn positive even by 1/10 of a percent, it could score its 11th straight gain. that would, mark the longest winning streak, 40 points away from nasdaq.
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>> fannie mae and freddie mac are no stranger to letting people who shouldn't buy houses buy houses. and six and a half years after the government bailed them out, fannie and freddie mac's profits go straight to the treasury. an outspoken activist says i want that money. enough is enough. charlie gasparino joining us with the senior managing director chris whalen. >> i want to attack this because he's the expert and knows this credit better than anybody else. what we have is a bailed out, right, in 2008. they become penny stocks, the government since 2008, now they are he a making money fannie and freddie. the government has been taking the profits and putting it into u.s. treasury. there are shareholders who bought those at penny stocks. and those are bill ackman who says the government is violating our shoulder rights
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because the companies are owned by the shareholders and they should be giving-- since we repaid the loan like the banks repaid the loan-- >> they repaid the loan and the rest-- >> no, no, they haven't repaid the loan. in 2008 fannie and freddie were insolvent, they were busted. the government brought them up to zero so they wouldn't affect liar -- their bonds. >> they were created by the government. >> only the congress controls them. all of these investors have hired big lawyers and lobbyists in washington for gazillion dollars and they've all you will lost. >> bill ackman is suing the federal government. and same agos hank greenberg is suing aig. if greenberg can win, that will show shareholders rights and that should transfer over to the fannie mae. >> no, aig is a private company that was bailed out by the
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government. i think illegally. oh, you think, illegally, too? >> judge lambert, one of the most respected judges in the countries slammed these guys. i know your feelings are hurt, but ultimately you have to go up to capitol hill because in the constitutional role of the federal courts there's nothing i can do for you. that's what he said in his opinion. >> so there are no shareholder rights here. >> under the law passed during the crisis, the regulator for fannie and freddie-- >> they're effectively a nationalized company. >> they always were. >> what was their company thinking-- i don't know, these are smart people, but-- >> you think he'll lose? >> he didn't change them from the companies, a compare company, krohning has control. >> and you know over the years what gave them a leg up, the
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backing of the federal government, almost on par with-- >> it's a triple-a rated company. they can't operate the way they do. that's the point. when you look at the reality, it's full faith and credit. the problem, the legal situation is mess. liz: how much money does ackman have in it? >> a lot of other funds. >> he says it's going to be a $30 stock. that's what he said. >> i think he's wrong with all due respect. >> i think he's wrong and i get -- it's an unholy alliance, it's the hedge fund managers on one end and also the housing advocates on the other who refuse to acknowledge one salient point, fannie and freddie mac were not created like a remember company, like hank greenberg and-- >> no, that's the key difference. liz: they're totally different. >> they're totally different and we have to decide what to
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do with this, he said it on the record several times, the u.s. congress doesn't want to get into this. we're talking about a return on capital. there's no repayment. the treasure is getting made-- >> let's say the bailouts make people unhappy and they're going to have a story for this is a video that we're not supposed to see the light of day. charlie-- >> it was supposed see the light of day during a managers meeting. it's a parody of -- yeah, i know, we have a story on fox business.com which you're going 0 run momentarily, says that morgan stanley is opening up an investigation because they killed it. the head of the velt management
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company thought it was poor tastes, they believe some d disgruntled employee leaked it out. they're saying, first off, it cost $100,000, apparently this thing, you know by the way they were paled out by everybody. >> that's what they're worried about. probably why they killed it. this thing was in such bad taste, there will be heads to roll on this thing. not just whoever approved this because there are senior-- or morgan stanley executives in this thing. i think-- >> he will soon. i mean, look, are there going to be-- look, it doesn't mean you're not allowed to have fun in your work place, but again once you're failed out by the government. >> to go and spend 100,000 and come up with something like this.
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i know the people who did the cost cutting, bad, it's terrible. so to make fun of it. >> eused to stay at bear stearns, get back on your stools, guys. liz: say hello to jules. >> i will. >> thanks, charlie. new records for the dow, s&p and russell 2000 kind of in the rear view mirror here as we've reversed. what should you do with your funny right now? let's whip up a new rest fee from two strategies who made millions and market share, fear over the surging popularity of are one drink originating out of kentucky. the chairman emeritus of acres mark flying high and striking a very interesting and plus a
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>> with 23 minutes before the closing bell, the dow, s&p, russell 2000, on the verge, maybe, of record closes? we lost it all, nicole, everything was to the upside by a long shot earlier today. nicole: you heard that they talked about backing a little bit. his models, seeing the trend, the path of least resistance is
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still to the upside. any moves to the upside mean a record close. the dow right now sitting at 18,209 and most of the sectors are to the down side. wanted to take a look at some of the big movers here, first of all, some of the consumer stocks and apple. so, look at apple. apple is having back to back losses and haven't seen that since january. in fact, a move to the down side of 2.8%. the sleepest decline we've seen in a month because you have to pay out 533 million dollars for the free interest. and that being said. the stock is up 75% in the last year, hit a record yesterday of-- was it yesterday or two days ago, 133.60. you know that's been doing great. another area we're following closely is the consumers stocks and that's the shining spot of the day. names such as dollar tree, target, under amour, some of them have had numbers out and overall, this is the group that's been hitting the lifetime highs, more than ten
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names in the s&p 500. liz, back to you, right now we'll see where we we get the records that you're watching. >> nicole, thank you. we're watching it every tick of the way. let's talk about bourbon right now. this is an interesting trend that we've decided to jump on here now. sales of bourbon and tennessee whiskey, generating 2.7 billion in industry revenue. makers mark, you know with the tread mark red wax, you see it there, one of the most popular best selling bourbons in the country, boy, suddenly after decades and decades, it's become even more successful. bill samuel, jr., makers mark chairman emeritus now, you've just been inducted into the bourbon hall of fame. who knew there was a hall of fame for bourbon. >> i didn't find out until a
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month ago. it should have been my parents, they helped to create the buzz that all the distilleries are sharing. liz: your parents marge and bill started how long ago. >> 1953. >> 1953 and nobody paid attention until a few years ago, now we're famous. liz: why? >> the lord said 200 years you suffered under prohibition and roosevelt shut down the distillery and some of it wasn't good and dad started over and a good bourbon, all whiskey improved and kentucky is on top of its game. >> going to say, bill swents bourbon, i'm going to tell you right now. bill's godfather is jim beam, was jim beam. >> a wonderful man. >> jim beam was your godfather? >> he was next door. i was a little kid. i could walk next door and we played with lynn done logs on the kitchen floor.
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he told me if i tried to do anything other than make whiskey, i'd probably fail. all of my family had. liz: a great american story. now let's get to something that you've done. look, there are a lot of celebrities jumping into the vodka realm. everybody wants a brand in vodka. have celebrities jumped into bourbon now or are you worried that's the next trend, pit bull may have a bourbon working in your-- >> we've got something, you can't make it and sell it in a day. people with short attention spans are not going to be successful. liz: the cask. maybe we can show some video of the cask, by law has to be from new oak, am i getting that corrected? >> all bourbon is newly charred american oak, we thank congressman wilbur mills.
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the cask strength is you have a new market. young people love flavor, they like flavorful cocktails, the ahahnemanan and-- the manhattan and the old-fashioned coming back. it's makers mark unfiltered out of the barrel in the bottle. liz: you guys have struck a very interesting deal. i use the term interesting liberally. university of kentucky. bill, help me-- . [laughter] . >> help me understand this. you can get off the makers mark now. at a time-- i don't want to be a stick in the mug, but at a time when alcohol and students become a problem, you're dealing with a coach, and people say what is bill samuels, jr. doing hooking up with kentucky and the makers mark?
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tell me how it started? >> this is as a small company, dad wanted to be able to give back when his hobby became a company and we started making money. we were small, so we found out by doing commemorative bodles, and working with two research universities, university of kentucky and university of louisville we could make money way beyond what we could give, i'm talking millions because people are makers crazy and love it when the wax isn't red. we have another-- and in this case, we're celebrating adolf raupp won championships. liz: the money goes to a good cause? >> in this case, it goes to the athletic department to build an academic facility for all of the on-scholar athletes at university of kentucky so you can't beat that. liz: i approve, that i approve. >> great to see you.
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jim beam's grandson -- god son. marge and bill would be proud of you, mom and dad. bill samuels, jr., now in the bourbon hall of fame. who knew there was one, now you do. opening bell minutes away. and hope you're hungry, we're dealing with two of the money managers on the street, the secret recipe for billions. the hudson river may be freezing over, but from this helicopter view a frozen new york makes for quite the picture. take a look at manhattan right now, folks! ♪ approaching medicare eligibility? you may think you can put off checking out your medicare options until you're sixty-five,
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>> we've got a stock alert. look at the screen right now. what do you see? you have the dow and the russell 2000 looking at this second to see record closes once again. and s&p and the nasdaq struggling at the moment. we're watching it for the last 10 1/2 minutes. time to give you what we're calling the multi-million dollar recipe for success. our next two guests together managed more than 46 billion dollars of client money combined and they're here to give you the best advice. more importantly, call it the recipe for billions. the jordan waxman, at high tower and partners, we wanted to do something different today and basically take your minds on the recipes for billions you've gotten together for your clients.
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it didn't start out as this much. did you ever imagine you'd have this much and make it grow? >> it's been fun. the point is would be passionate and to be disciplined and i think by doing that good things will happen. liz: discipline is hard, isn't it? >> it is. i know managing the ridgeworth allocation strategy, three things i'm watching, come stanley combining valuations with macro forces and market momentum. a system that changes day by day, but we feel we've been very successful in being able to blend all of those forces. >> here is the ridgeworth allocation fund. by the way, when you say macro forces, we've been fighting with a lot of our people who come here and saying, do you look at the headlines, do you tune out the headlines? what's your strategy? do you look at the headline and macro forces of the world over which you have little control? >> you have to be aware of the circumstances that are at play because we're allocating
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capital globally. we are cognizant of currency moves and interest rate moves, countries, sectors, you have to be aware of all of it. but our business is with substantial private clients that are c-level executives and owners athletes, entertainers who have amassed tens of millions of dollars of capital, we have to preserve that capital and grow it at an acceptable rate after tax, after inflation and i spend time at that you canning to clients about values and how they want to transmit across the generation and not go shirt sleeves to shirt sleeves. >> preserve i get, but grow is a little more difficult. alan, how do you grow capital? what is the best recipe for capital to grow and yield? >> well, i think the important thing, i mentioned the process that we used for investing in the allocation strategies and
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contrast what we're going on this year. and i'll run diversified strategies, but the thing last year is that clearly, the dominant place to be was in the u.s. and we look at valuations, valuations overseas were very cheap, but yet, there wasn't that catalyst, there wasn't had a macro force that was going to help, and we stayed underweight all through 2014 and that worked in our favor. i think this year there's a dynamic going on that's helping the international space and so we're looking a the macro forces between the improvement in overall manufacturing activity over in europe, along with a decision of the ecb. liz: mario draghi, quantitative easing. >> we've been talking about this forever and now it's happening. so that change has caused us to shift significant money into the international space.
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liz: you've just articulated exactly how you do what you do. jordan, your turn. give us an example what you did last year and what differently you're doing this year? >> like my colleague we were the united states and the dividend socks-- the defensive posture worked against many managers, if you're trying to preer is -- preserve the capital, you stay with the high quality investments, it was a low quality rally. part of the stocks in the s&p accounted for the market. to grow, we have been looking at areas outside the equity market to grow capital. liz: such as. >> reinsurance risk is an area that has no correlation to the stock market and if you buy a broad reinsurance book or several reinsurance books or a percentage of the books, then you can have two or 3,000 contracts of reinsurance risk. one has no correlation to other. wind in florida doesn't create
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a hurricane in texas and it doesn't mean that katy perry is going to cancel a concert, so those have nice risk of return. and health care royalties is another area we're in. liz: health care royalties and reinsurance. alan, what about you, a region or simply like equities possibly in europe? >> well, we've been focused primarily on europe. we do think that the effort or the initiative in japan is going to take hold. we're watching very closely in the emerging markets to see whether or not additional money ought to go there. we are -- there are a lot of risks basing the markets as we go into 2015. and the, one of the things that we're monitoring very closely is how much china is slowing. so, that's been one of those things. the data is always iffy at best, but right now, we're a little concerned. so, in the meantime, we're staying in the developed markets within the international space and that's been working out well. liz: watch out for china, he
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says. it's great to have both of you and we like to take times to show our viewers how exactly you do what you do. the recipe for billions. alan gail and jordan blackman, hightower managing director and partner. thank you you both. >> thank you. liz: we'll put their ideas on facebook.c facebook.com/after the bell and liz claman. two shows. and will we see new records or a single new record at all at the close? right now, what do we have? we've got the dow showing, yes, indeed up 19 points. and the russell might eke out a gain as well. that would be a record. we'll tell you which widely held dow components, do you own them? a few minutes before the close, don't move. be asked is "what is it that we can do that is impactful?" what the cloud enables
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he. liz: breaking news, is janet yellen, did it again. day two of testimony gives us
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another record for the dow and russell. if the numbers stay here. david: eking way moo positive territory. although we have negatives to talk about with nicole petallides at new york stock exchange. starting with apple. starting to lose a little glimmer today. liz: they have to pay out for patent infringement. this is itunes patent, $533 million. the stock has run up to record new highs. it is up 75% in the past year. back-to-back loss, down 2% the steepest decline in two months. liz: we were seeing declines in mcdonald's there but today we're seeing some decent gains, getting the stock getsing closer to the $100 mark. >> it is exciting to see mcdonald's close to 100. it was 103 at annual high. it is not there yet. consumer groups of stocks did well. this stocks was up 4%. 98.76. david: i don't mean to be harbinger of bad news.
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hewlett-packard down big time. [closing bell ringing] >> missing all of their segments. down 10%. david: oh, 10% loss. bells are ringing. we focused on negatives in the market. you can't avoid the obvious which we're in record territory once again. all of that had to do was to up one point. -- go up. it was up 13 points on the dow. the nasdaq is, let's see what the nasdaq is up now, where is the record on the nasdaq? liz: it is down. david: nasdaq is down just a bit. so we have a mixed record on the dow but on all of the indices but the dow in lord tear -- record territory once again. "after the bell" starts right now. liz: look a record is a record but the fact is, this one had a little less oomph today.

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